All Forum Posts by: Uriel Resendiz
Uriel Resendiz has started 3 posts and replied 21 times.
@Erik Estrada you able to help out with this?
Hi Sonny, FHA is a great route to go with especially if you want to use the lower down-payment and generate income. You are able to purchase upto 4 units (fourplex/quadplex.) Also, you are able to purchase upto 100 mile radius from your job site. Let's do this, let's get you pre-approved with @Erik Estrada and go from there
Post: What are your inputs on Solar Energy?
- Posts 23
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Has anyone on here thought of installing Solar on their Properties? or have you heard a friend or neighbor talk about it to you?
do not hesitate to reach out, I have great referral programs upon deals closing
Cheers
How much is the rent? what are your requirements? where is it located? Details on the property?
I might have someone
Post: What % required to be put down for investment properties
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@Vaghinak Badalyan what is your goal? buy a building complex or a four plex?
Post: Off Market Properties for Fix and Flip, BRRR, Long Term Hold
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what area are you looking for? @Atanas Angeles I would love to connect
Post: 4 unit to 5 unit conversion for refinancing - good or bad idea?
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If you want cash for another property using your current equity, I would suggest a HELOC instead.
Post: Buy Primary Residence vs Rent & Invest
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Hi Michael!
Congratulations on deciding to invest in Real Estate! I would find a great lender to start and figure out how much you are approved for first. Then I would look for 2-4 units FHA approved or FHA 203K if the property needs some work or even a Fannie HomeStyle. @Erik Estrada is my preferred Mortgage Broker, he would be glad to assist.
Post: FHA construction loan idea to get me started
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Quote from @Tyler Rogers:
Hello all, I am a newer member of bigger pockets and am very excited to get into the real estate game. I have read a few of Brandon's books and am currently reading Brandon's low and no money down book when I had a brainstorm. I am in my early 20s living in California and realize that the market here is very competitive and expensive. My father owns his home and has an extra separate lot that are both in a very nice location. I wanted to brainstorm an idea where I could build on his lot so it would benefit both of us. I was wondering if I would be able to use a FHA loan to build a duplex on the lot. We would then live together in one of the units for one yr and rent the other unit out as well as his home that he is living in currently. I would assume that this would give plenty of offset and create a positive cash flow. I would then let him take more of the cashflow until he eventually gets old and passes the properties onto me. Does this seem like a solid idea? He has also mentioned I would be able to take a home equity loan from his current home to help. My main concern would be to put all the financial Burdon on myself. If anyone has any suggestions about this idea pls let me know and please excuse me as I am new to real-estate and not familiar with all the terms.
Some potential ideas for the new home would be a mobile home unit or one of those home depot home kits.
Hi Tyler!
FHA would not be able to help since you are not buying anything. There is a loan that FHA has that helps when you are buying a home that needs repairs "FHA-203K" which finance upto 35k in repairs. The best advice is to either Refinance " depending on your current rate" or a HELOC. @Erik Estrada would be the best person to help with this.